HSBC is to offer online business customers Chaps and Swift payments through its business internet banking service.
The UK bank says these services will hand back control to business owners, allowing over 780,000 Sterling and foreign currency payments a year to be made without them having to leave the office.
The new payment service can be used to create instructions online for payments within the UK and overseas. Since its launch earlier this month, HSBC says it has seen over 15 different currencies, more than 500 payments and at least GBP1.1 million worth of funds pass through the new system in two weeks.
The banks says the new payment capability is faster than posting or faxing instructions, helping businesses to manage cash flow and make last minute transactions.
The Chaps and Swift payments cost GBP15 per transaction, which HSBC says will save customers GBP6.
Alan Keir, head of commercial banking for HSBC Europe, said: by removing the manual interaction previously required to make these payments, we’re also freeing up more time of the 760 business specialists we have on the high street and the growing network of dedicated staff in our commercial and corporate centers across the UK.